Tag: Jack Conway

Another Attorney General Joins Foreclosure Fraud Investigation

Cross posted from The Stars Hollow Gazette

There have been a couple of new developments in the foreclosure fraud investigation that was initiated by New York State Attorney General Eric Schneiderman. The coalition of state AG’s who want a real criminal investigation and oppose the 50 state settlement proposal of Iowa AG Tom Miller has grown by one with Kentucky’s AG Jack Conway adding name. From David Dayen at FireDogLake:

The latest AG to stand with Schneiderman and against the attempts to whitewash the fraud of the big banks is Kentucky AG Jack Conway. He is up for re-election this year, and is known nationally by virtue of his unsuccessful challenge to Rand Paul for Senate in 2010. Conway, in conjunction with the Progressive Change Campaign Committee, sent an email to supporters aligning himself with Schneiderman.

   The same Wall Street banks whose irresponsible actions led to our nation’s economic collapse are now pressuring all 50 states to give them legal immunity. The banks want to block any criminal or civil accountability for actions that have yet to be investigated.

   Attorneys General from Delaware, Minnesota, Nevada and New York have been fighting back. Today, I want to make a clear statement in support of Wall Street accountability and against immunity for banks – and I ask you to join me on this statement:

   “Today’s economic crisis was caused by Wall Street acting improperly. Every American has paid the price – with families losing their homes, investors losing their money, and many Americans losing their jobs. There should be absolutely no criminal or civil immunity given to banks for activity that has not yet been investigated.”

Several things are important here. Kentucky didn’t really have a big housing bubble – Conway is supporting this on principle, rather than in service to a wide swath of dispossessed and struggling borrowers who are victims of fraud. Second, he writes this in the context of an election which has tightened up minimally. So he obviously finds this to be a winning issue on the campaign trail. Third, it would be tempting to just ignore a proposed settlement that isn’t going to happen. Conway sees political advantage in stamping on this process, which is already flailing.

In another development in Nevada, an attorney has filed criminal charges against Wells Fargo accusing the bank of forging loan documents:

In court papers filed this month in Clark County District Court, attorney Dave Crosby alleged bank employees committed forgery and fraud in making a $350,000 loan to a father of four who was unemployed at the time.

“They forged signatures, they backdated documents,” Crosby said. “We’ve got them cold.”

Crosby said the bank has presented two deeds of trust for the same property. One bears the signature of Olivia A. Todd, who on Jan. 27, 2010, was identified as an assistant secretary with MERS, Inc., a mortgage servicer from the Phoenix area and a co-defendant in the lawsuit.

But on Feb. 16, 2010, Todd’s signature appears on a second deed of trust, where she is identified as the firm’s president. Both assignments were notarized as authentic, Crosby said in court papers.

Crosby made his allegations in a request to have a judge review three failed mediations between him and his clients, Ryan and Mical Henderson of Las Vegas, and lawyers with Wells Fargo, formerly Wells Fargo Home Mortgage.

Buried deep in the story was this interesting note:

Nevada Attorney General Catherine Cortez Masto is expected to file criminal charges against bank and title company employees, as well as notary publics, over allegations of robo signing.

The paltry deal of $20 billion by AG Miller that would let the banks off the hook for most civil and criminal liability seems hardly adequate when you really examine the scope of the fraud nation wide.  

Suppose Your Actions Swung the Election

Imagine if your actions made the difference in electing a Senator, Governor, or Congressional representative? Suppose the phone calls you made, money you donated, doors you knocked on, and conversations you initiated helped swing a critically close race, or two or three. Suppose the friends you dragged to the polls helped America reject the anonymous corporate dollars that threaten to drown our democracy?

You’d feel pretty good, I believe, at least about your own efforts. So why aren’t more of us doing everything we can from now through the election to ensure the best possible outcome?  In 2008, millions of people reached deep and then deeper to stake our time, money, and hearts on the possibility of change. We knew it was a critical election, and helped carry Obama and the Democrats to victory.  Now, too many of us feel burned and disillusioned, with dashed hopes. We’ve lost the habit of being engaged. The election seems someone else’s problem. We doubt what we do will matter–for this round or in general.

How to throw Rosa Parks off the bus, by John Stossel and Rand Paul

STOSSEL: because private businesses ought to get to discriminate.

~snip~

(I)t should be their right to be racist.

“I want my country back”

Back to when? 1963? or 1910? or 1810?

When Rosa Parks was thrown off of a bus for refusing to sit in the back in accordance with discriminatory Jim Crow laws it helped begin the Civil Rights movement.

It was racist then, and it would still be racist now.

Except, of course, if you are a libertarian or a Republican.

   In the last 24 hours, both Kentucky Senate candidate Rand Paul and Fox News Corp employee John Stossel have made the case that it is OKAY to throw Rosa Parks off the bus if it is owned by a private business.

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